UNIVERSITY PARK, Pa. -- Penn State Board of Trustees committees met at the University Park campus Thursday (May 5).
Among the actions taken by committees:
Agricultural Engineering Building: Final plans for a renovation and construction project to modernize the Agricultural Engineering Building at an estimated cost of $44.5 million were approved by the Committee on Finance, Business and Capital Planning of the Board of Trustees. The plans now move to the full board for a vote on May 6.
Outdoor track resurfacing: A proposed upgrade to the Nittany Lion Outdoor Track was presented today to the Committee on Finance, Business and Capital Planning.
Interim budget: The Committee on Finance, Business and Capital Planning recommended for approval an interim maintenance and operating budget of slightly more than $4.89 billion. The full board will vote on the recommendation at its meeting on May 6.
Capital plan: To expedite the East and Pollock Halls renovation on the University Park campus, which is a major project in the Housing and Food Services Capital Plan, a revised multi-year Capital Assessment was proposed and approved by the Board of Trustees. As a result, the annual capital assessment amount for fiscal years 2018–2023 will be adjusted to provide the necessary financial support for the accelerated renovation plan.
New learning space: The College of Education once again has become the beneficiary of a family whose philanthropy is changing the way students are taught at Penn State and beyond. Gay and Bill Krause, whose $6.5 million gift created the existing Krause Innovation Studio, have pledged an additional $1 million to support the creation of an innovative teaching and learning space that will expand the scale and scope of the work being done in the current studio. The Penn State Board of Trustees learned about the project at its Committee on Finance, Business and Capital Planning meeting May 5.
Alcohol sales: The Committee on Legal and Compliance unanimously recommended a plan proposed by Intercollegiate Athletics (ICA) to make alcohol available in a limited capacity at specific events on the University Park campus. The issue was initially discussed by the committee in February. The proposal will be taken up by the full board on May 6. Net proceeds from alcohol sales at ICA events would be distributed among Student Affairs for student alcohol education programming; ICA; and Auxiliary and Business Services.
Succession planning: The Penn State Board of Trustees Committee on Compensation was given an overview of succession planning in higher education during its meeting May 5.